State Bank of Mauritius has become the first foreign entity to receive a license to start a bank in India. The bank, along with DBS of Singapore, had received preliminary approval several months ago. It has now received the final banking license on Dec 6, banking sources confirmed. Mauritius, despite being a tiny Island nation […]
Prestige Group, one of Bangalore’s largest real estate developers, said it has inaugurated its Forum Center City Mall in Mysore. The company operates the Forum Mall in Bangalore, one of the city’s oldest and most prominent. The Forum Center in Mysore has 3.2 lakh square feet of leasable area and is situated on Hyder Ali […]
Infrastructure company Hindustan Construction Company said it got another contract, worth Rs 484 cr, from Pune Metro for the construction of 8 stations on the east-west line. The contract comes two months after it reported a contract win for 9 stations in Line I. The contract has been won in consortium with the Dubai-based AL […]
Union law minister Ravi Shankar Prasad today said he has had official talks with the Congress Party on the ‘triple talaq’ bill, but the opposition party has raised two demands that amount to incentivizing Muslim men to abandon their women. The first demand, said RS Prasad, was to decriminalize the offence and make it bailable, […]
Royal Orchid Hotels said it opened its 48th hotel in Pushkar under the name of ‘Regenta Resort Fort’. “We are taking continuous steps towards expanding our presence all over India,” said Chander K. Baljee, Managing Director, Royal Orchid Hotel. The chain has opened seven properties – Mysore, Ahmedabad, Dehradun, Kanpur, Dwarka, Indore and Pushkar in […]
Construction giant Larsen & Toubro said it has won a Rs 1,483 cr contract from oil and gas producer ONGC to create offshore platforms, pipelines and other works in its Bassein field offshore Mumbai. “The project includes three new wellhead platforms, 23 kilometer Subsea pipeline, composite Subsea power cable, clamp-on works on an existing platform […]
Glenmark Pharmaceuticals said it has launched a biosimilar of Adalimumab, a drug for Plaque Psoriasis and Rheumatoid Arthritis from Cadila Healthcare Ltd.. “The launch of ADALY marks the launch of Glenmark’s first biosimilar in Dermatology,” the company said. The drug has been licensed from Cadila. “ADALY will be available to patients in India at a […]
Sun Direct, the DTH service from Sun Network, has been allocated 144 MHz of spectrum on the recently launched Measat-3B satellite which will enable service to add 20 new HD and 100 new standard definition channels. A social media user by the name of ‘Raja Chennai‘ shared a screenshot of the application made by the […]
NIIT Limited, which made a name for itself training millions of Indians with IT skills, said it acquired a US-based corporate training company. NIIT will incur a cost of $8.1 mln (Rs 51.50 cr) over the next five years for the acquisition, including assumed debt and goodwill costs. Eagle International Institute provides training programs for […]
The Indian government has awarded all the contracts under the India-Myanmar-Thailand highway over the last three months and the highway is likely to be ready in three years, the external affairs ministry said. “Government of India is implementing two projects as part of Trilateral Highway between India, Myanmar and Thailand. These are construction of 69 […]
The Karnataka state government has not yet informed the central government that it is setting up an exploratory committee to study the prospect of having a separate flag for the state, the home ministry said. Karnataka has an unofficial yellow and red flag that is widely used on days such as the Rajyotsava or state […]
Titan Co, India’s largest jewelry company, said its mainstay jewelry business saw retail sales that were in line with expectations for the October-December period, but there was a slight slowdown in sales to franchisees. It also said its pilot stores for special occasion ethnic wear are doing well and it may open a few more […]
The country’s largest car maker Maruti Suzuki India reported 10.3% increase in its auto sales for December, slightly slower than the 14.1 percent reported for November. The total sales was at 1.30 lakh units compared to 1.55 lakh in November and 1.18 lakh in the same month last year. The company’s domestic sales stood at […]
Indusind Bank, part of the Hinduja group, said it has raised $500 mln (about Rs 3,300 cr) by way of syndicated term loans from a group of overseas lenders. The tenor of the facility is 3 years and will be used for general banking purposes, it said. “This fund-raising, along with the funds raised during […]
Vivimed Labs said it will receive $7.5mn investment from OrbiMed Asia into its API business as a follow on to the $42.5 mn invested in September 2017. At the time, Vivimed has said that the proceeds will be utilised for debt reduction at the parent entity level as well as for expanding the API business. […]
L&T said its Hydrocarbon Engineering unit secured a major construction contract for Crude Distillation and Vacuum Distillation Unit (CDU & VDU) from Hindustan Petroleum Corporation Limited, Visakhapatnam Refinery. It also won an extension to an ongoing contract for Reliance Industries Jamnagar. The combined value of the two contracts is about ₹2,100 Crores, the construction company […]
The Central government has agreed to fund the construction of residential schools for girls from the scheduled caste community in districts with large populations from the community. The center will provide the cost of constructing the school as well as for purchasing items such as furniture, recreation, garden, etc., minister Thaawar Chand Gehlot. Only classes […]
The fire at Mumbai’s Kamala Mill Compound has disrupted the broadcasting operations of India’s biggest media conglomerate Times Group. Channels such as Movies Now, Romedy Now, MN+ and so on are offline, while news channels — including ET Now, Mirror Now and Times Now have had to transmit from make-shift studios and locations. Anchors of […]
Joby George of Kerala-based Goodwill Entertainments has offered a ‘lifetime’ job in the UK, Australia, Dubai or India to the person who was arrested by the Kerala police yesterday for cyber-bullying an actress who criticized super star Mammootty. “If u can give u r no or u can come to my home or office till […]
Authorities at Delhi International Airport have been waiting for nearly nine years for a religious trust to lower the height of a statue to make full use of one of Asia’s longest runways. It was in 1989 that the Airport Authority had given permission to Jaya Shree Charity Trust to build a Shiva statue with a […]
